{"id":577132,"date":"2010-05-24T14:05:00","date_gmt":"2010-05-24T18:05:00","guid":{"rendered":"http:\/\/www.businessinsider.com\/cam-cajastur-caja-cantabria-extremadura-2010-5"},"modified":"2010-05-24T14:05:00","modified_gmt":"2010-05-24T18:05:00","slug":"things-moving-quickly-as-spanish-government-forces-four-banks-to-merge-to-prop-up-system","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/577132","title":{"rendered":"Things Moving Quickly, As Spanish Government Forces Four Banks To Merge To Prop Up System"},"content":{"rendered":"

\"Spain<\/p>\n

The Spanish government has just moved to support its banking system again, forcing four major banks to combine in a bid to save their existence.<\/p>\n

The move targets Cajastur, Caja de Ahorros del Mediterráneo, Caja Extremadura, and Caja Cantabria, according to Cotizalia<\/a>.<\/p>\n

It comes just hours after Spain’s €530 million bailout of CajaSur<\/a>.<\/p>\n

The merger is not a full one, but brings four of Spain’s largest banks into a loose conglomeration. Assets under management for the new firm are valued at €135 billion<\/a>.<\/p>\n

Details are scarce of what the final agreement, negotiated by the Bank of Spain, will look like, but it appears banks within the agreement will maintain significant autonomy.<\/p>\n

At the moment, this looks like a move that intends to provide capital support to weaker links within the grouping, though information is limited.<\/p>\n

Check out just how bad the situation is in Spain here ><\/a><\/h2>\n

Join the conversation about this story »<\/a><\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

The Spanish government has just moved to support its banking system again, forcing four major banks to combine in a bid to save their existence. The move targets Cajastur, Caja de Ahorros del Mediterráneo, Caja Extremadura, and Caja Cantabria, according to Cotizalia. It comes just hours after Spain’s €530 million bailout of CajaSur. The merger […]<\/p>\n","protected":false},"author":1977,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-577132","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/577132","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1977"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=577132"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/577132\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=577132"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=577132"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=577132"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}